When You Need a Brand Strategy Overhaul:

Addressing Internal Forces

Previously, we navigated through the choppy waters of external factors that can throw your brand off course. Today, we journey inward to explore the internal factors that may demand a reboot of your brand strategy. In this second part of our series, we delve into three core areas—Product Lifecycle Changes, Financial Pressures, and Organizational Changes. Any variation of these are the internal winds that can either propel you forward or blow you off course. It’s time to examine the cogs and gears of your brand engine.

Is Your Product Portfolio Stagnating?

We live in the age of innovation, and if there is one hard truth, it is that innovation doesn’t halt. Over time, your portfolio could begin to feel stale, or your growth could plateau. In times like these, recognizing the need for revitalizing your brand strategy can catapult you back into the limelight. It may involve entering new markets or diversifying your product line, but it all starts with a robust strategy that speaks to your evolving offer.

Are You Struggling to Penetrate New Markets?

Organic growth is exciting but equally challenging. Maybe you want to enter a new geographical location or launch a co-branded initiative. Regardless, the struggle to make a dent is real. If you want to hit the ground running and avoid wasted resources and opportunities, you might as well refine your brand strategy.

Do Financial Metrics Have You in a Pinch?

Have your margins narrowed? Did the pressure to maintain sales and market share escalate? If so, you could find your brand caught in a vice grip. The solution often lies in creating differential value. Revisiting your brand strategy can reveal untapped avenues for value creation that justify your price point and help maintain profitability.

Is Your Share Price Underperforming?

If you are a publicly traded company, you know the drill. The underperformance of your share price can create a feedback loop of negative perceptions around your brand. In a way, your stock valuation is the market’s brand assessment. Addressing this requires finely-tuned investor communications as part of your overall brand strategy.

Are New Revenue Streams Elusive?

As the saying goes, the best road is the one you are accustomed to. While it’s tempting to stick to what you know, tried-and-tested methods could stifle your growth. Licensable assets or franchising options can open up new revenue streams but must be integrated smartly into your brand strategy. A patchwork approach can be detrimental.

Are Mergers and Acquisitions Muddying Your Brand Identity?

Companies evolve, merge, and sometimes even spin off divisions. Each time this happens, there’s a risk that the brand message will get lost or diluted. A repositioning strategy ensures that your brand comes out stronger and clearer post-transaction.

Is Employee Engagement a Miss?

Your employees aren’t just staff; they are brand ambassadors. When morale dips or talent drains, it’s often a sign that your internal brand alignment is askew. Revisiting your internal brand strategy can re-engage your team, aligning them better with your overall mission and values.

Quick Recap and Your Cheat Sheet for Navigating External and Internal Forces

Before we wrap up, here’s a concise cheat sheet to help you quickly identify and act on the internal challenges your brand might be facing. Use it as a guide to evaluate where immediate attention may be required.

Addressing these internal forces head-on is essential for brand health and longevity. Ignoring them is akin to sailing with a malfunctioning engine—you might stay afloat, but you won’t reach your destination. If any of these challenges resonate with you, it’s crucial to act now rather than wait for a full-blown crisis. The Parlor Agency has decades of experience helping brands navigate these internal complexities and can guide you through a strategic brand overhaul tailored to your unique needs. Contact us today and let us help you turn your challenges into opportunities for growth. Stay tuned for future articles that continue to dive deep into the ever-evolving challenges and opportunities of brand management.